576 2nd Ave · Troy, NY 12182

$224,900

4 bd · 2.0 ba · 3,878 sqft · MultiFamily public records · 41 Days on market

Built 1890 3,049 sqft lot $58/sqft · 41% below area Est $381k · 41% under ↓ 25% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Here is a great investment to receive monthly income while remodeling 1/4 of bldg interior and/or 3 car garage! This large 5 bedroom 4 bath 2 family adjacent to Verdile's Restaurant features in-law's accommodation/s to the rear of each floor. With 3/4 of bldg finished and rented out at $2,700 monthly ($1,725 - 1st Floor + $975- 2nd Floor) + utilities which leaves 1/4 of the bldg specifically the 2nd floor rear in-law area that needs rehab for potential ($700) more monthly income if needed. Front windows, kitchens, all appliances, between 2 and 4 years, & roof is 4 years old. If getting a loan flood insurance will be needed. Property is being sold ''as is where is''. Inspections can be

Key facts

• 3 car garage
• Roof is 4 years old
• 3,049 sq ft lot

Tags

• 3 CAR GARAGE
• FINISHED AND RENTED OUT
• ROOF IS 4 YEARS OLD

Property features AI

Finance

• Financial info: Owner pays water, sewer, and trash collection; Tenants pay electricity and gas

Exterior

• Parking: 2-car garage; Off-street parking; Total parking for 3 vehicles
• Utilities: Public water; Public sewer; 100-amp electric service
• Home design: Duplex; Level lot; Lot dimensions approximately 26 x 121; Main road frontage approximately 26 feet
• Construction: Brick construction; Combination foundation
• Exterior features: Rubber roof; Wood fencing; Detached garage(s)

Interior

• Kitchen: Unit 1: 1 kitchen; Unit 2: 1 kitchen
• Bedrooms: Unit 1: 2 bedrooms (both on the 1st floor); Unit 2: 2 bedrooms (both on the 2nd floor)
• Flooring: Hardwood floors
• Bathrooms: Total: 4 full bathrooms; Unit 1: 2 full bathrooms (1st floor); Unit 2: 2 full bathrooms (2nd floor)
• Heating & cooling: Natural gas heating; Space heaters
• Interior features: High-speed internet; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $953 ($11k/yr) — positive. Per door: $477/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.3% in Troy — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.77% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.94%
• DSCR: 2.20
• GRM: 4.7

CMA / ARV

• ARV (median comp): $381,215
• List price: $224,900
• Delta: -41.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
842 2nd Ave	0.72mi	5/2.0 (+1)	3,402 (-12%)	10mo	$245,000	$72	33
769 2nd Ave	0.53mi	5/3.0 (+1)	3,302 (-15%)	22mo	$200,000	$61	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.39×
• Total profit: $24,705
• Equity at exit: $33,533

10-year hold

• IRR: 19.2%
• Equity multiple: 2.61×
• Total profit: $101,493
• Equity at exit: $19,445

Cash invested: $62,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12182

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,972 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$451 /mo · $5,416/yr
• Insurance: −$94
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$834
• Net cashflow: $953

Break-even live

Break-even rent $2,766

Max offer price $224,900

Occupancy floor 71%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,972
Total (2 units)			$3,972

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $224,900 Active 41 DOM
2. 2026-06-17
   days on market $224,900 Active 40 DOM
3. 2026-06-16
   days on market $224,900 Active 39 DOM
4. 2026-06-15
   days on market $224,900 Active 38 DOM
5. 2026-06-14
   days on market $224,900 Active 36 DOM
6. 2026-06-10
   days on market $224,900 Active 33 DOM
7. 2026-06-09
   days on market $224,900 Active 32 DOM
8. 2026-06-08
   days on market $224,900 Active 31 DOM
9. 2026-06-07
   days on market $224,900 Active 30 DOM
10. 2026-06-05
    days on market $224,900 Active 27 DOM
11. 2026-06-03
    days on market $224,900 Active 26 DOM
12. 2026-06-02
    days on market $224,900 Active 25 DOM
13. 2026-06-01
    days on market $224,900 Active 24 DOM
14. 2026-05-31
    days on market $224,900 Active 23 DOM
15. 2026-05-31
    days on market $224,900 Active 22 DOM
16. 2026-05-08
    listed $224,900 Active 765-char remark
17. 2024-08-01
    historical
18. 2024-05-31
    price $275,000
19. 2024-03-07
    price $284,000
20. 2024-01-31
    listed $299,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $5,416 · $451/mo
• Projected year-2 tax: $5,416 · $451/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,664
• − Mortgage interest: −$12,598
• − Property taxes: −$5,416
• − Insurance: −$6,650
• − Repairs & maintenance: −$3,813
• − Management: −$3,813
• − Depreciation: −$6,543
• Taxable income: $8,832
• Est. tax owed @ 24.0%: −$2,120
• After-tax cash flow: $9,317/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, NY
• City population: 53,479
• Population (ZIP): 14,273

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.58%
• Current HPI: 273.5758
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-24.8% since first listed

5 events — show timeline

• 2026-05-08 Listed $224,900 Global MLS
• 2024-08-01 Listing Removed — Global MLS
• 2024-05-31 Price Changed $275,000 Global MLS
• 2024-03-07 Price Changed $284,000 Global MLS
• 2024-01-31 Listed $299,000 Global MLS

Property tax history

+15.5%/yr

Latest (2025): $5,416 · +1.3% YoY. Source: county tax records.